Cosmote remains on the rise, Romtelecom reaps benefits of launching NextGen
Romtelecom, one of the largest communications operators in
Romania, posted 13.9 million euros in operating losses in the third
quarter of the year, with revenues down 6.5%, to 181.5 million
euros because of the austerity measures and because of the rise in
unemployment, according to data in the financial report of OTE, the
majority shareholder. Romtelecom posted 194.2 million euros in
revenues and an 8 million-euro operating profit in the similar
period of last year.
"Given the consumer spending decline prompted by the salary cuts of
public sector employees and of the VAT increase, Romtelecom posted
reasonable results under these unfavourable circumstances,
recording a 6.5% decline in revenues in the third quarter of 2010
against the similar period of the preceding year," said Yorgos
Ioannidis, the company's CEO.
On the other hand, the company announced increases in the number of
Internet and TV clients, which partly compensated for the decline
of the core business, fixed telephony. The rise is largely driven
by Romtelecom's cable company, NextGen, which brought nearly 80,000
Internet clients.
Cosmote, no. 3 on the Romanian mobile telephony market, posted
117.5 million euros in overall revenues in the third quarter, up
8.5% on the previous year, according to data in the financial
report of the OTE group, Cosmote's majority shareholder. Service
revenues went up 3.4% in the third quarter, with the EBITDA
amounting to 23.3 million euros, 12% more than in the preceding
year.